Cost Seg. Study on STR

[Abe DeHart]

Have any of you done a cost seg. study on an STR? We recently purchased a large cabin in the Smokies that I'm interested in having a cost seg study completed on. If we do a cost seg, are we able to count depreciation against our W2 Income? We do not currently qualify for Real Estate professional status at this time, but my understanding is that STR losses are considered non-passive losses. Thanks!

[Kathy Lindsay]

@Abe DeHart - I purchased a STR in 2019 through our LLC and did a cost seg study. It saved a tremendous amount of tax for me in a year when I really needed the additional depreciation. They are relatively inexpensive and I think worth the $$. I would also highly recommend @Steven Hamilton II and Hamilton Tax Services as an experienced and knowledgeable RE Tax Accountant.